STEEM Surpasses Bitcoin!

We’re happy to announce that in the last 24 hours, we’ve surpassed the Granddaddy-of-Cryptocurrencies (Bitcoin obvs) in number of transactions over a 24 hour period!

Fast, Free, and More Transactions

Now, STEEM has been beating Bitcoin at a few things for a while. It takes only 3 seconds to transfer STEEM anywhere in the world while Bitcoin transactions recently averaged 18 hours! That means STEEM can be as much as 2,160,000% FASTER than bitcoin! And unlike Bitcoin, transferring STEEM doesn’t cost anything. There are absolutely no fees. It’s totally free. So it’s ... infinitely cheaper.

Now we’ve got yet another notch in our belt: yesterday 278,464 transactions took place on the Steem Blockchain at a rate of 3.223 transactions per second over the course of 24 hours! That’s 15,091 MORE transactions than Bitcoin with no hiccups! The Steem Blockchain is handling the volume with ease.

For Us, It’s A Big Deal

This milestone validates years of hard work. We built a platform that was designed to do things no other cryptocurrency was capable of, while being able to scale (something our competitors like Ethereum admit they are still struggling with). We wanted to develop a protocol that would enable people to earn rewards for the valuable content they shared with the public, and we did that. We accomplished all of that when we created the Steem Blockchain.

Finally we wanted to develop an application that anyone (not just people who are into cryptocurrencies) can use to share content and receive rewards. And we did that too with Steemit.com. Lately, signups have been accelerating and we have every reason to believe that trend will continue, so surpassing Bitcoin is really only the beginning. One day the number of transactions occurring on the Steem Blockchain will eclipse those on Bitcoin, and maybe then we will look back on this day fondly as the day when everything started to change…

I bought STEEM back in August, probably at around $2, and it was an excellent investment: the price may have immediately started falling, but the sense of commitment and engagement that having even a small stake gave me has given me immense value in terms of motivation. So that although financially it is now, in the last few weeks, a vindicated purchase that I made, that is not the main point. For me, the main point was purchasing the motivation to keep writing. So: win, win, win.

I'm just getting into Crypto's, but when I saw Steem, and the price it's currently sitting at, I bought a few immediately. It's a great platform that will shape the way information is shared in the future.

I´m getting in now. Really new to all blockchain tech but have been reading, wathcing videos, listening to podcasts and doing loads of research for the past 5 weeks. Incredibly exciting tech!! Have started buying and trading a bit as well and it seems very interesting so far! :) Hope to become a good member of this community and learning a lot, but also sharing my experiences and engaging in this. Hope you all will bare with me and answer my noob questions. I´m sure there will be many of them... :)

just what I thought. Lately, BTC has really started to sssuck. Constant increases in mempool size, hence need for higher-and-higher fees. It's a pretty big reason for other coins advancing, and rightly so: the idea of COMPETING CURRENCIES (Austrian School of Economics) is just that and will result in ppl moving to other (better as in faster, less expensive, more power-efficient etc) Cryptos and, at the same time, give Altcoins a boost...

Yeah well, that's because Steem transactions are free and there are many more things you do with Steem transactions like voting, unlike Bitcoin which is 100% money transfers
- Hypothetical self defeating response

Wow! I love this. The fees on transacting Bitcoin, will sooner than later pull it down. I see a future where Steem gets higher than Bitcoin even in Price. Someone may want to call it wishful thinking, how I wish you will remember this comment 3 years from today.

This is so exciting! Congrats to all of you who have been here and built this platform to where it is now. I'm brand new, learning the ropes and very happy to be here. Wishing the best of success to all as Steemit continues to grow and gives more people the chance to create here. I'm definitely sharing the word!

I've got to say that Steemit.com is one of the main reasons i was able to get into the crypto world. And it continues to be an amazing resource for education and networking. Thanks so much steemit community !

Now we’ve got yet another notch in our belt: yesterday 278,464 transactions took place on the Steem Blockchain at a rate of 3.223 transactions per second over the course of 24 hours!

imo, it should be phrased as

278,464 transactions took place on the Steem Blockchain at the average of 3.223 transactions per second over the course of 24 hours! Not only that - at the time of writing, the Steem Blockchain can support up to 10,000 transactions per second when it comes to the crunch.

Woo hoo! Now if only the world was a meritocracy, we'd be dominating the cryptocurrency space. That's why marketing is so important. Keep working hard, team, and we'll support you however we can. Resteemed for sure.